LEVERAGING DATA TO MAKE STRATEGIC DECISIONS

Transcription

1 LEVERAGING DATA TO MAKE STRATEGIC DECISIONS

2 Bart Borelli Manger of Sales, Hospitality Cloud, Cvent Inc.

3 Evolution of Cvent Agenda Power of Data Virginia Market Insights The Planner Perspective Why Cvent?

4 EVOLUTION OF EVENT CLOUD

5 EVENT CLOUD HOSPITALITY CLOUD

6 Suggested Ads Advanced Custom Proposal Template RFP Assignment Diamond+ Blog Sponsorship Routing Rules Video Marketing RFP Labels Suggested Ad Boost Promotions Hub Enhanced Marketing Package Proposal Defaults Basic Reporting Scorecards Custom RFP Views Competitive Market Ads Hero Ads Display Ads SocialWall SpeedRFP Button Premier Marketing Package Recommended Hotels Elite Meetings Magazine Standard Marketing Package Deep Dive Reports Supplier Certification Comp Set Reports Search Screen Sponsorship Parked Reports Escalation Rules Basic Custom Proposal Template Diamond Listings Newsletter

7 THE HOSPITALITY CLOUD 3 PILLARS Group Marketing Solutions Group Demand Management Group Business Intelligence Create Brand Awareness & Lead Generation Manage Response Time Measure Performance Management

8

9 HOTEL GROUP BUSINESS - CVENT DATA SCIENCES Demand Generation Demand Management Group Business Intelligence Supplier Network SpeedRFP/WhiteLabel Packaged Analytics Lead Scoring Dashboards Comp Sets Suite Hotel Performance Metrics Hotel Response Behavior Planner Sourcing Patterns RFP Segmentation Market Intelligence Competitive Landscape Market Share Pace vs Demand Award Propensity Trends Rate Comparison Fair Share HOTEL DATA TYPES IN 2016 AND NOW BEYOND

10 $40+ BILLION Sourced to Date $10 BILLION Sourced in 2015

11 1.8 MILLION RFPs sent in 2015 ~150k per month ~7k per day ~300 per hour

12 10,000 Daily Active Planners 35,000+ Daily Search Interactions 100,000+ Daily Page Views Consumed 40,000+ Daily Hotel Profile Views

13 OUR ANALYTICS PROWESS 49 Days Patterns 1,500 Historical & Future Dates 27 RFP Segments 50 Market Segments 24 Planner Segments 3.5M+ Group Proposals 9,000 Hotel Responses Captured Daily 5-6 Unique Rates per URFP Rates from 450 MMAs 20 Analysts Grinding this Data

14 FREE GROUP BUSINESS TRENDS City Level Historic Data A free, interactive website to help you discover trends and insights based on: Geography RFP type Hotel Characteristics Date Ranges cvent.com/grouptrends

15 FREE GROUP BUSINESS EVALUATOR FICO Score for Your Hotel Self-assessment tool that examines your group sales & marketing practices, and outputs a score to compare your performance to hotels similar to you. groupbizevaluator.com

16 HOTEL COMPETITIVE SET REPORTS

17 HOTEL COMPETITIVE SET REPORTS PANTAGES HOTEL TORONTO CENTRE CURRENT MONTH RANK PERFORMANCE METRICS YEAR TO DATE RANK PERFORMANCE METRICS RUNNING 12 MONTHS RANK PERFORMANCE METRICS TOTAL RFPs RECEIVED 10 9/9 BL 68 9/9 BG 90 9/9 BL TOTAL ROOM NIGHTS RECEIVED 256 9/9 BL 12,554 9/9 BG 14,291 9/9 BG AWARDED RFPs 0 7/9 BG 8 7/9 BG 11 9/9 BG AWARDED ROOM NIGHTS 0 6/9 BG 252 9/9 BG 468 9/9 BG CONVERSION RATE 0% 7/9 BG 15% 1/9 AG 17% 1/9 AG RFP MARKET SHARE 7% 9/9 BL 5% 9/9 BG 4% 9/9 BL ROOM NIGHTS MARKET SHARE 1% 9/9 BL 3% 9/9 BG 2% 9/9 BG RFP FAIR SHARE INDEX BASED ON MEETING SPACE 157 5/9 AL 126 6/9 AG 104 6/9 AL ROOM NIGHTS FAIR SHARE INDEX BASED ON MEETING SPACE 15 9/9 BL 60 9/9 BG 45 9/9 BG RFP FAIR SHARE INDEX BASED ON SLEEP ROOMS 230 1/9 AL 185 2/9 AG 153 3/9 AL ROOM NIGHTS FAIR SHARE INDEX BASED ON SLEEP ROOMS 22 9/9 BL 88 7/9 BG 66 9/9 BG RESPONSE RATE 100% 1/9 AG 99% 1/9 AG 97% 3/9 AL RESPONSE RATE BY PLANNER DEADLINE 90% 4/9 AG 96% 1/9 AG 91% 5/9 AG BID RATE 90% 1/9 AG 78% 1/9 AG 72% 1/9 AG TURNED DOWN RATE 10% 1/9 AG 21% 1/9 AG 24% 1/9 AG PLANNER DECLINED RATE 11% 1/9 AG 53% 4/9 BG 54% 3/9 BG AVERAGE RESPONSE TIME 01 Days 01 Hours 29 Mins 1/9 AG 01 Days 02 Hours 36 Mins 1/9 AG 01 Days 08 Hours 40 Mins 1/9 AG VENUE NAME CATEGORY ADVERTISER METRO AREA CITY SLEEP ROOMS TOTAL MEETING SPACE (SQ. FT.) Pantages Hotel Toronto Centre Primary Yes ON - Greater Toronto Toronto ,000-9,999 Sq. Ft. The Westin Harbour Castle, Toronto Comp Set Yes ON - Greater Toronto Toronto ,000-99,999 Sq. Ft. Sheraton Centre Toronto Hotel Comp Set Yes ON - Greater Toronto Toronto Over ,000 Sq. Ft. or more Fairmont Royal York Comp Set Yes ON - Greater Toronto Toronto Over ,000-99,999 Sq. Ft. Hilton Toronto Comp Set Yes ON - Greater Toronto Toronto ,000-49,999 Sq. Ft. InterContinental Toronto Centre Comp Set No ON - Greater Toronto Toronto ,000-19,999 Sq. Ft. The Omni King Edward Hotel Comp Set Yes ON - Greater Toronto Toronto ,000-49,999 Sq. Ft. Delta Hotels Toronto Comp Set Yes ON - Greater Toronto Toronto ,000-19,999 Sq. Ft. Toronto Marriott Downtown Eaton Centre Hotel Comp Set Yes ON - Greater Toronto Toronto ,000-49,999 Sq. Ft.

18 ADR HOTEL COMPETITIVE SET REPORTS $154 $158 $165 $168 $140 $136 $158 $145 $146 $168 $161 $ Aug-15 Sep-15 Oct-15 Nov-15 Dec-15 Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16 Jul-16 Comp Set Rate Spectrum Comp Set My Prop Your Rate You RFPs - ADR Plot (Next 6 Months) Total RFPs Size of the bubble is based on $250 $200 $150 $100 $50 $0 Avg. ADR $179 $178 $194 $156 $148 $ YTD 2017 YTD 2018 YTD Comp Set My Prop

19 Roanoke, VA Group Business Insights

20 TOTAL RFPs THROUGH CVENT % ( ) ,000 1,200 1,400

21 RFP SIZE (TRAILING 12 MONTHS JULY 2015 TO JUNE 2016) RFP Size YOY Growth Large -38% Medium 6% Small 17%

22 DAYS PATTERN (TRAILING 12 MONTHS JULY 2015 TO JUNE 2016) Days Pattern YOY RFP Growth Extended Stay 67% Weekday -15% Weekend 15%

23 BOOKING WINDOW ( ) Booking Window YOY RFP Growth 1-30 Days 19% Days -43% Days 63% Days 11% Days 12% Days 21% Days -26% 366+ Days -40%

24 AVERAGE AWARDED ADR (TRAILING 12 MONTHS JULY 2015 TO JUNE 2016) Brand Scale Average of Adjusted ADR Economy $103 Independent $279 Midscale $116 Upper Midscale $126 Upscale $215

25 US FEEDER MARKETS YOY 1% 2% 7% 4% 21% 12% 18% ~50% of RFPs from the Southeast 52% 15% 6% 45% 17%

26 WHO ELSE IS GETTING YOUR RFPs? 24% 21% 15% Washington, DC Richmond, VA Bluefield, WV

27 WHO S RFPs ARE YOU GETTING? 1% 10% 29% Washington, DC Richmond, VA Bluefield, WV

28 THE PLANNER PERSPECTIVE

29 The Planner Sourcing Journey Industry Research Destination Research Hotel Research RFP Process Booking Decision

30 Zero Moment of Truth Search Watch Videos 63% don t have a preferred venue in mind when starting their venue sourcing process Stimulus Ask Your Network Shelf 57% Read Reviews Are uncertain of their budget

31 38% of planners begin their venue sourcing with an online sourcing tool Online Sourcing Tool 38% Search Engine 29% Direct to Venue 17% Peer Recommendation 12% Other 4% 17% start their venue sourcing directly with a venue

32 41% GEN Y IS ON Planners are years old THE RISE

33 Millennial Planners 53% plan more than 6 events per year 35% of meetings are between attendees 71% are corporate planners 16% association 12% 3 rd party Online sourcing tools are the #1 channel for starting venue sourcing process #2 is search engines 37% less likely to source directly through a venue

34 Millennial Planner PAIN points 22% 25% 17% 15% RESEARCHING VENUES NEGOTIATING WITH THE VENUE COMPILING PROPOSAL RESPONSES COMPARING THE PROPOSALS Source: Cvent data

35 Millennial Planner PAIN points 42% of planners say suppliers lack thoroughness in proposals 32% of planners are looking for prompter responses

36 WHY CVENT?

37 THE HOSPITALITY CLOUD 3 PILLARS Group Marketing Solutions Group Demand Management Group Business Intelligence Create Brand Awareness & Lead Generation Manage Response Time Measure Performance Management

38 ~$57M Revenue in 2015 ~$10B Sourced in 2015 = <1% Cost of Sale

39 Low Cost Channel Extension of Your Sales Team Unique Lens and Insight You Can Get Nowhere Else

40 THANK YOU